Cobra's Market View

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The initial breakdown below blue line was bought, but the rebound for now is not strong enough so be careful, if test the blue line again, the breakdown this time most likely would be for real.

members only update starts here: http://www.cobrasmarketview.com/2014/12 ... ay-update/

The market is still fearful right near all time highs. Today might not go the bulls way, but let's put it this way, the new year could bring in a flood of pent up demand for shares, as it has 5 out of the last 6 years to the tune of 1% or more on 4 occasions.

JNUG rallied hard yesterday but failed to close above the 20 ma which has moved to 25.76. It could go today. It did so this time last year and mounted a huge rally. However, I'm not accumulating yet.

If XLE breaks back into the "bear trap" zone again, the bear trap might have been the real breakdown and we're heading down to re-test or make another lower low. If that happens, I might take PSX calls off temporarily till it works itself out. We're not there yet.

:geek:Looking to Long NUGT ...when GDX @ ...
I have no reason to disclose my exact entry/exit points...take it or ...

SPX minor triangle… as VIX tries to hold onto support..and resistance just above at the 20d @ 16.41

/es 60m.. possible H&S… or bull flag/ bullish falling wedge forming

SPX .. are we going to party like it's 1999?… VIX breaks… look for a sharp pop.. 5m candles on SPX long wicks to the upside… not terribly bullish atm.. morning gap fill first? VIX new highs.. SPX not new lows.. minor invs H&S too.. either way a break of the orange triangle.. I'd expect a sharp move…

INDEX dailies… GLD trying to hold 50d, USO new lows..

members only update at 10:15 am
http://www.cobrasmarketview.com/2014/12 ... ay-update/

I have posted the full info on the New Year's holiday turning point - though right now, I do not see any edge.... one could materialize later today or in the next few days, so one should at least be aware of what has occurred historically.

http://www.cobrasmarketview.com/2014/12 ... ay-update/

ENJOY the holiday!

-D

moment of truth for the invs H&S on SPX.. but VIX is strong.. looking for it's 20d tag

haven't looked at AAPL recently.. 20d/50d are converging.. nothing clear pattern wise

SPX .. breaks triangle.. next resistance.. cyan ( could be a RS ) of H&S.. VIX still hanging in… atm

Check out the nas 100. Wow! All of yesterday's intraday losses are gone in an hour. Shorts are getting hosed on tech.

FlowerGirl wrote: :geek:Looking to Long NUGT ...when GDX @ ...
I have no reason to disclose my exact entry/exit points...take it or ...

Long NUGT 1/2 position 3% trailing S/L...

Happy New Year from HK

INDEX dailies… RUT new highs, GLD loses 50d, UUP testing recent highs, VIX pressing 20d

not sure if you can save that monthly candle.. USO monthly